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ALBANY, N.Y. , May 9, 2022 /PRNewswire/ -- Extensive utilization of ultrasonic sensors in autonomous vehicles and wide spectrum of industrial robotics applications have been prominent adoption trends in the ultrasonic sensors market. Sizable demand for ultrasonic sensors in Advanced Driver Assistance Systems (ADAS) has reinforced abundant avenues for market players. The global valuation of the ultrasonic sensors market is projected to exceed US$ 7.9 Bn by 2031.
Companies are witnessing new revenue streams by broadening product portfolio for civilian and public domain applications. New technologies for data fusions among next-gen radars, cameras, and ultrasonic systems will pave the way to new opportunity for ultrasonic sensors, assert the TMR study assessing dynamics that will shape the future of ultrasonic sensors market.
Rise in consumer preference for connected cars is enriching the revenue prospects of various automotive companies in the ultrasonic sensors market. Growing awareness about the technical specifications of newer assortment of ultrasonic sensors will help make the technology an inexpensive one and with versatile use. Indeed, the growing applications in the architecture, engineering and construction (AEC) industry especially in emerging economies is expanding profitable avenues for key vendors in ultrasonic sensors market to capitalize on.
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Key Findings of Ultrasonic Sensors Market Study
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Ultrasonic Sensors Market: Key Drivers
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Ultrasonic Sensors Market: Key Players
Some of the key players in the ultrasonic sensors market are:
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Global Ultrasonic Sensors Market: Segmentation
Ultrasonic Sensors Market, by Type
Ultrasonic Sensors Market, by Application
Ultrasonic Sensors Market, by End-use Industry
Ultrasonic Sensors Market, by Region
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